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TSX Venture Exchange
Trading Symbol: ARC
VANCOUVER, Oct. 10, 2013 /CNW/ -
Arian Resources Corp. ("Arian") - ARC: TSX-V.
Mr. Zahir (Zip) Dhanani, President and CEO of
Arian, is pleased to announce that in association with Sinomine
International Exploration (Hong
Kong) Holding Co. Limited ("Sinomine") a drill program has
been planned for the Kacinar gold project located in Albania. As announced on September 19, 2013 Sinomine has optioned the
Kacinar project from Arian and has the ability to earn up to a 60%
interest in Arian's wholly owned subsidiary Jab Resources Shpk
("Jab") which holds the project.
Two thousand meters of drilling are planned to
test six priority targets. The drill and associated equipment
were shipped from China on
Oct 5th and expected to
arrive in Albania mid November.
Drilling is expected to commence in late 2013 and anticipated to
take four months to complete. A six person Sinomine Team is
expected to arrive at the end of this month to start preparation of
the work program.
The drill program is budgeted to cost
approximately $1,000,000 and upon the
spending of $1,000,000 on the
project, Sinomine will have earned a 10% interest in Jab.
Kacinar Gold Project
Based on the geological, geochemical and
geophysical results obtained to date, the company has unearthed
what appears to be a new gold-bearing greenstone belt. Where
suitable tectonic and intrusive activity has occurred greenstone
belts can contain substantial gold deposits.
Greenstone-hosted gold deposits currently provide over 13 per cent
of global gold production, with examples such as the Kirkland Lake, Malartic and Detour Lake mines within the
Abitibi belt in Canada, the
Tasiast mine in Mauritania, and
the Fimiston mine in Kalgoorlie, Australia. Within the Kacinar licence,
there appears to be potential for two styles of mineralization. The
first is quartz carbonate-sulphide shear-hosted veins as discovered
in the company's drill testing program. The second is porphyry
copper-gold mineralization associated with emergent core complexes
as interpreted from the company's geophysical survey. Within
the outlined greenstone belt, historic Albanian Geological Survey
work defined six areas that contain stream sediments anomalous in
gold. Drill testing of a small area (400 metres by 200 metres)
associated with one of these geochemical anomalies by the company
outlined nine steeply dipping quartz carbonate-sulphide
shear-hosted veins, averaging four metres in width and averaging
2.7 grams per tonne gold. These veins are open along strike and at
depth, and are consistent with the type of mineralization found in
established greenstone-hosted gold deposits and collectively offer
significant potential.
Analysis of drill core and surface trench
samples from this area has resulted in 61 samples with grades
greater than one gram per ton gold. Of these, 8 samples have
between five and ten grams per tonne gold and 12 samples have
greater than ten grams per tonne gold. The highest assay was
39.4 grams per tonne gold over one metre on drill hole GZJ1017.
Significant intersections include 1.51 grams per tonne gold over 14
metres thickness on drill hole GZJ1012 and 7.01 grams per tonne
gold over six metres on drill hole GZJ1011. Note that these
thicknesses are not necessarily true widths. Preliminary
metallurgical test work indicates that 94 per cent of the gold can
be separated into a sulphide concentrate using standard floatation
processes. The gold occurs as separate grains associated with the
sulphides. Following the completion of the drilling program an
induced polarization geophysical survey was undertaken in the
Gjazuj area. This survey reveals the presence of numerous
high-priority resistivity and chargeability anomalies. These are
interpreted to represent both the shear-zone-hosted sulphide
mineralization identified in the drilling and large
sulphide-bearing intrusives lying immediately adjacent to and below
the shear zones. The intrusives are further interpreted to
represent porphyry copper-gold mineralization associated with the
emergent core complexes. A number of high-priority targets have
been identified for drill testing (target depths ranging from 50
metres to 250 metres). The potential presence of a zone of
emergent core complexes that runs north-south through the Gjazuj
area is significant. Such zones can be associated with porphyry
copper-gold instrusive systems that contain both considerable gold
(multimillion ounce) and copper resources. Mineralization of this
type has been identified in two sub-parallel belts located to the
east of Albania (within
Serbia-Macadonia-Greece and within Serbia-Bulgaria). As virtually
no modern-day exploration has been undertaken on the identified
Albanian zone, it is considered to offer considerable
potential.
Chad Ulansky,
PGeo, is the qualified person under National Instrument 43-101 who
has reviewed the technical disclosure in this news release and is
responsible for the technical information contained in this
release.
ON BEHALF OF THE BOARD OF DIRECTORS
Zahir
Dhanani, President & CEO
About Arian Resources Corp.
Arian Resources Corp. is a junior mineral
exploration company with a focus on the exploration of prospective
gold properties in Albania.
About Sinomine International Exploration
(Hong Kong) Holding Co.
Limited
Sinomine is a wholly-owned subsidiary of
Sinomine Resource Exploration Co., Ltd., the top resource
exploration company in the People's
Republic of China that is to be listed on the Shenzhen Stock
Exchange.
This news release may contain forward-looking
statements including but not limited to comments regarding the
closing the transactions contemplated by the Option Agreement,
subscription of Units, resignation and appointment of directors of
the Board and the timing of the Completion Date. Forward-looking
statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements and
Arian undertakes no obligation to update such statements, except as
required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Arian Resources Corp.
